LONDON - Geiger Counter Limited (LSE:GCL) has announced the repurchase of 170,000 ordinary shares at an average price of 51.66 pence per share on Thursday. The transaction is part of the company's ongoing share buyback program, which has seen the firm repurchase a total of 12,782,543 shares since the Annual General Meeting held on March 9, 2023.
Following this latest buyback, Geiger Counter Limited now has 139,886,804 ordinary shares with voting rights in circulation, alongside 12,787,445 shares held in Treasury. This move is in line with the company's strategy to manage its share capital effectively.
Share buybacks are a common practice among public companies, allowing them to return value to shareholders and potentially improve financial ratios. Shares acquired through buyback programs are typically held in Treasury and can be reissued in the future or used to meet obligations from convertible securities or employee share schemes.
The company has made this information available following the regulations of the London Stock Exchange (LON:LSEG), where its shares are traded. The repurchase activity is conducted under the guidelines approved by the Financial Conduct Authority in the United Kingdom (TADAWUL:4280).
Geiger Counter Limited has not disclosed any further intentions regarding its buyback strategy or any potential impact on its share price. The information regarding the share buyback is based on a press release statement from the company.
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